You purchase a machine for $12,000, depreciated straight-line to a salvage value of $2,000 over its 5 year life. If the machine is sold at the end of the third year for $7,500, what are the after tax proceeds from the sale, assuming your tax rate is 34%?

a)$6,990

b)$7,160

c)$7,210

d)$7,390

e)$7,500